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SBF Warns FTX Investors of Bankruptcy Without More Cash: Bloomberg
FTX is underwater.
FTX investors have been warned that the crypto exchange may be forced to file for bankruptcy protection if it doesn't get a cash infusion, Bloomberg reported Wednesday.
The news follows reports that Binance balked at an earlier promise to buy the troubled trading empire after looking at its books. Bloomberg reported the FTX exchange faces an $8 billion shortfall.
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FTX has been on a tailspin for a week following CoinDesk's reports of the blurred lines in the books of Sam Bankman-Fried's once-mighty empire.
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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